Malta, the island state of the Mediterranean Sea, is famous for its excellent conditions for recreation. However, tourism is far from the only reason to visit this small country. Foreign investors who do not hold EU/EEA citizenship can obtain Malta residence permits for themselves and their families.
The Malta Permanent Residence Program allows you to visit any country in the Schengen area without the need to get a visa, apply for Malta citizenship after 5 years, and rent a property without having to buy it before applying.
Benefits of MPRP for traveling to Europe
Expert in the field of investment immigration Elena Ruda (Immigrant Invest company) considers Malta’s entry into the EU in 2004 one of the most important achievements of the state. This means that after obtaining a permanent residence permit in Malta, a foreigner can travel to any Schengen country, use European standard medical services, get an education there, and even work (if a foreigner gets the appropriate permission).
One of the main advantages of Malta’s permanent residency
According to the World Risk Report, Malta is one of the safest countries in the world. In addition, this is a great place to do business. This is evidenced by the economic development rating A+ from the international rating agency Fitch. Having the citizenship of an EU member with such parameters is very beneficial. Having received a residence permit, a foreigner can complete an application for Maltese citizenship after 5 years.
Other pros of getting a Malta permanent residency
Rental Property
An investor doesn’t need to invest in real estate before applying for a residence permit. MPRP allows you to rent a property and make all the necessary investments after the approval of the application.
Terms of approval of the application
After the investor has submitted all the necessary documents, the processing of the application lasts from 4 to 6 months.
Ease of living
Firstly, English is the official language of Malta, which makes life easier for foreigners. Secondly, developed tourism makes investments in real estate very profitable, and the security and stable economy of the country give confidence to businessmen.
Tax regime
The availability of tax incentives is a very important criterion for foreign investors. Malta is a very advantageous state in this regard. Foreigners are exempt from paying taxes on foreign income. In other words, only the income that a foreigner receives in Malta is taxable.
Malta Residence Permit for a Family
Family members of foreign investors also get access to the program:
- •The spouse of the applicant;
- •Children of the applicant or spouse at any age;
- •Parents of the applicant or spouse;
- •Grandparents of the applicant or spouse.
One of the main methods of getting a RP in Malta is by investing in real estate. The minimum amount, in this case, is 500,000 euros. This way opens access to all the Malta permanent residency pros and the citizenship of the country after 5 years.
EU membership, visa-free travel with Schengen countries, excellent living conditions, and the prospect of obtaining citizenship make Malta’s permanent residence by investment program a really interesting option for foreign investors. The opportunity to provide your family with living in an economically stable European country deserves attention. Investments in real estate will be able to generate a passive income (if rented out) due to the developed tourism sector, and the peculiarities of the tax regime will allow for building a sustainable business.
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